tv Countdown to the Closing Bell FOX Business January 2, 2014 3:00pm-4:01pm EST
an upgrade. analysts taking the stock to a buy from neutral. right now as you can see, a gain of more than three and a half% which is nice to see when you have a trading day like we have today on the first trading day of 2014. united states steel is up after the stock was upgraded to a buy. newmont mining, for solar, and advanced micro devices of leading the s&p 500. one of the bee is losers percentage based, it is the basis for 2013 percentage based. after last year, gold futures jumped the most of we have seen in three weeks on the belief that demand for bars and georgia will increase in asia which is something to watch in 2014. gold is sire seth many investors are asking themselves what is in store for the markets.
let's get to the floor show. traders standing by at the new york stock exchange, cme, and the nymex. uni have talked many times about what the year was going to bring, but the bigger question is what could hurt this rally in 2014. >> like you said, we have talked about the positive effect we have seen. i think what could really hurt the market is going to be too much tapering. going too far too fast. the government needs to look at this and do it in n orderly fashion. while doing so disseminate information to the public so there is transparency and investors feel like they know what's going on. if there is too much too fast the economy can a kind of shake around a little bit which is the last thing that we need right now. they have the luxury of having a finger on the pulse of the cable to make adjustments on the flight. the precise movements will be correlated. we will see that in our markets
and economy. cheryl: i want to jump to the nymex. we are looking at oil. i want to get your take on this. the secrets that we have seen. over one year. also headlines coming out of north dakota. the overall contract. >> if anyone has been listening, this is long overdue. we said it. cheryl: you did. >> we did. we had a hundred dollars locked in. it was there with smoke and mirrors. air reality check. we're down to a support level. this is a market that i did not think would do with them one day. this is pretty much a surprise that it happened so fast and one day. again, now we have a market that at least has flushed out what we call the weaker long. now we may be able to take a look and see how this shakes out in the next couple of days because we have severe weather
coming in. cheryl: i want to ask your but some have lies the resize the end of last week. the train killed -- train collision in north dakota. highly combustible. i am wondering what traders think about all of that. >> no one really knows, and i don't want to speculate. i think when you talk about transport by rail, and my own mind that seems a little bit on the dangerous side. i don't think that the two maxwell. again, i am more thinking on a pipeline basis. there are less moving parts. i heard talk about the fact that the type of world that is going through there has extra. [indiscernible] i don't know how that could be the case. but it throws a bit of a damper on that type of transportation.
cheryl: we talked so much about domestic production and the ramp up of oil production in this country. you don't want to see headlines like this, but i'm glad the brunt of the fact we don't know what is going on yet. and by the way, you did say that we would hit $100 on oil and pull back. you were right. let me go over to the cme. we were talking about gold. the interest. i am wondering if this is some type of global economy. if the chinese and indians will be buying more? there is something that they goal is telling you right now? >> our imaginations are our own worst enemy. such a precipitous decline. we saw a lot of textile selling before the year-end, and the stock to of those folks who wanted to stay in our buying it back today. no one to read too much into it. ultimately it will make a run toward the downside because we will need to see more good or even great economic figures to really keep this economy on the
upswing. what if we get a bad jobs number? there is a lot of volatility. i think the fed has already started to say they're worried about deflationary rather than inflation. 85 billion a month is not inflationary. we have seen all of the economic indicators are telling us that that is not the case. if we come into bumps in the road and defaced -- a deflationary cycle, 25 per gold looks expensive. cheryl: you will see what the contract does tomorrow. happy new year come by the way. >> happy new year. >> happy new year. >> happy new year. cheryl: several retailers seeing - boost. let's head down to lauren simonetti on the floor of the new york stock the exchange. i'm sure you were not surprised by the names. anntaylor. >> reporter: surprising. you go into the store and it is always 40 and 50 percent off. they have this highly promotional environment, butialg
these names, urban, american eagle, chico's all moving to the upside command to the upside sharply in and day where we are broadly lower. this is what they are fighting for, upgrades on the stocks, the macro environment. with the retail trajectory improving due to household finance and being better, household net worth improving, people's homes being worth more. all of this is positive for the retail environment which is why it likes this group. was negative on other stuff. it. cheryl: you were talking about the discount. we were talking about the fact that chico's, it is just not restore the we ever go into. >> urban, they did a direct consumer marketing. you go into the store. they don't advertise. you need to have a tablet device and they did you that device
immediately. cheryl: another big story. a huge shakeup in the auto industry. fiat and americans united autoworkers union announcing an agreement that would give the italian carmaker complete control of its american ally, chrysler. jeff flock joining us from chicago. we expected this to happen, but today was the day. >> reporter: today was the day yesterday actually. making an offer to the uaw via. it could not refuse. i have been watching clips of the got the other this afternoon. the deal was this essentially. we will find you with some -- by you with some of your own money. first, take a look at the reaction of the auto stock in the u.s. considerable speculation that they may become a listed.
this is another big competitor, the seventh largest automaker in the world. take a look at the adr which is how lot of people invest in foreign automakers. all of them were down save fee at. some down as much as three or 4 percent. up 14%. the volume on the stock last night checked was about 126,000 shares. today it was a million. a lot of people involved in that this deal, a lot of people say it is a sweetheart deal. chrysler was bought for essentially. essentially bought for two and a half billion of its own money. they will pay the uaw health care trust fund, an additional 700 million over the next four years, again, out of chrysler's own money. a pretty sweet heart way to do the deal. take a look at the bailout scorecard.
a lot of people said kamal did we just bail these guys out? welcome the investment, 12 and a half billion. much of that in loans which were totally repaid. the rest was sold by the u.s. government at a loss of about a billion. the italians say, hey, we have been working really hard on this and deserve it. this is what we wanted, when the present. we will be talking to him at the detroit auto show. it should be interesting. they have access to $8 billion worth of cash. they can do what they want with that potentially financing operations. all lot of people are concerned about that. cheryl: all right. jeff flock live out of chicago. thank you. happy new year. fifty minutes to go until the bell rings. you just heard it from jeff flock. coming ouu, whether now would be
acted time to get a chrysler car or suv. and how the company will likely perform under the complete control of the hon. a whole game changer. as a winter storm gets ready said dump on the northeast, will look at who will be hit the hardest and what it will mean for travel and tweeting plans throughout the region, beyond the airports. it is all happening. we will be right back. ♪ [ male announcer ] nearly 7 milon clients. how did edward jones get so big? t me just put this away. ♪ could you teach our kids that trick? [ male announcer ] by not acting that way. it's how edward jones makes sense of investing. over the pizza place on chestnut street the modest first flo bedroom in tallinn, estonia
and the southbound bus barreli down i-95. ♪ this magic moment it is the story of where every great idea begins. and of those who believed they had thpower to do more. dell is honored to be part of some of the world's great stories. that began much the same way ours did in a little dorm room -- 2713. ♪ this magic moment ♪ they're about 10 times softer and may have surface pores where bacteria can multiply. polident kills 99.99% of odor causing bacteria and helps dissolve stains. that's why i recommend polident. [ male announcer ] cleaner, fresher, brighter every day.
♪ cheryl: let's update you on breaking news. looking at a live picture of boston, massachusetts. here comes the snow, and the delays we are seeing across the country due to the storm are beginning to increase. closing officially at 8:30 p.m. eastern. airport officials are saying that they expect to reduce service and cancel flights throughout the day. they think that service to resume late friday morning. that is the anticipation. northeast m in particular, the boston area will be hit the hardest by this impending blizzard that we're facing right here in the northeast. we want to show you one of our power movers.
apple, the tight giants starting the new year on a bit of a sour note today, slumping about one-half percentage, sitting at $5,503.205. downgrading on the computer maker to market perform from an outperform. that was today. he said there were concerns over the gross margin in the new year bad news for apple, not so fast. cantor fitzgerald rushed to the defense calling the stock is best large cat pick for the new year and put his price target at 777. austria is divided. a long-term buyer. very bullish. so the debate rages on. we will see who will be right later on in the year as, of course, we follow the stock for all of you. the dow down 122. this is the first major snowstorm of the new year heading to the northeast. came from the midwest bringing
sub zero wind chill and blizzard conditions. meteorologist joining us with what to expect. >> thank you. the system is covering all across the eastern u.s. a lot of blue on the northern edge. it is right here. this know already arriving just on the west edge of philadelphia. blowing across the boston area as cold air is wrapping around this system, but the heavy snow is expected later today, later on this evening, but also we have a concern for gusty wind. boston already blowing past 30 miles-per-hour this afternoon causing major travel delays. they're closing the airports at logan in boston and expects travel lays all along the i-95 corridor. tonight until tomorrow morning, heavy snow, a blizzard conditions.
boston could pick up even more than a foot of snow. southern new england and then out to new york. six sets of lenses of snow. currently temperatures are already plummeting down into the teens as well. now back to you. cheryl: it will be a long night for you and many people in the northeast. thank you. the united states is not the only country is the big equity gains. japanese stocks were on a tear. up about 20 percent over the past year. is there still room to run? let's bring in advisor portfolio manager. you're bullish on japan, mainly because they're finally showing us inflation, of the inflation. a good picture you. >> japan is one of our favorite markets for 2014.
we think there is still room. if elected in the country our economy, japan or anywhere else, there are really only three ways that they can compete. demographics, productivity, or currency. so look at japan. dino the demographics are not good. secondly, the productivity growth has been slowing. the productivity story is over. so really it's just currency. in currency is the only way that they can compete as an economy or a country. cheryl: for talking about 15 years of stagflation. even ben bernanke of four was fed chair warrant. basically giving advice to the japanese that they were so proud they did not want to back off of the easing money policy. so many fears in this country that we would become japan. what changed? >> first of all, the sentiment had been there for a long time. ever since their credit boat -- credit bubble pops. but really what changed was starting just over one year ago
japan started to swing from a trade surplus to a trade deficit which is something that most investors started to mess. dr. weir of 2012 when they produce the first trade deficit. imagine this, you have politicians trying to weaken the yen. they still want to today. really, the difference is swinging from a surplus to a deficit. the support for the currency is gone. cheryl: currency war is one thing, but also, u.s. manufacturers could benefit from a stronger japanese economy. investors lose sight of the fact that we want japan to improve and do better. do you think the u.s. multinationals would benefit if japan does turnaround? >> they certainly could. the trade relationship between u.s. and japan is there and it is terrific. the thing i would worry about is, they tend to have a lot of other exposure suits.
if you think about the business model. virtually any make that multinational has the same business model to maintain revenues in the u.s. and grow businesses emerging-market. well big caps my benefit, i think they have other headlines which are really coming from emerging markets, particularly countries like china and india. cheryl: obviously it is not japan. it is the return. less talk about -- very concerned about the chinese economy, the bubble in their market. the chinese government maintains that growth is fine. they have begun to adjust their monetary policy. you know think the changes they have been making in the last few months of doing anything? >> that is a good question. emerging markets, particularly china, one of the single biggest underweights in our portfolio. the main concerns have not been addressed by the chinese.
it number one, they have one of the ultimate credit bubbles, probably one that is, if you think about the history of cycles, it generally starts in the u.s., moves to european bins in emerging markets. the credit bubble popped. there is an e.m. credible that this right in china. cheryl: avoiding urging more -- avoiding emerging markets. someone is right. i cannot waittto find out who. thank you for coming. all right. closing bell will ring -- again, the first day of trading. happy new year. about 40 minutes to go. financials just had a great year in 2013. let's talk to the stock picker who likes banks. you will tell us exactly which one sees begin to outperform. and one of america's most iconic of brands, the hands of the got after them make a deal to take full control of chrysler preview will find out what this
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liz: after a record-breaking 2013, how will 2014 stack up for investors? the economy is growing and this year financials will reign supreme. but he says don't be too hasty but it comes your strategy. you are very bullish on the u.s. economy. during the seaquest we got the message the opposite was happening. what are you seeing? >> over the past couple of months we started to learn they were covering up what was going on in the private economy. what you started to see was the effects had burned off, economic conditions are strengthening and the conditions are far greater than what people had anticipated, well over 3%. i suspect with the numbers that came out today, it is suggestive the economic conditions are improving.
we will see gdp growth for 2014. supportive of higher stock prices generally. liz: what does it mean for the stock price overall? we had these great returns in 2013, and we should not realistically expect double-digit returns for 2014, what would you say to that person who is norma' nervous? >> what i tell people's look, people don't predict bubbles number one. last year you could put money in an index fund and you could do great. they are going to have to understand what you own. from a valuation perspective, there are plenty of opportunities. that does not mean you can buy everything and it will go up.
particular sectors that will benefit greatly from the improving economy, the tapering of the fed, and the rise in the united states. i would imagine we will see high single-digit returns for the stock market for 2014, which will be great to add onto the back of the 20% from last year. liz: you do like financials, financials were strong for 2011, 2012 and 2013. where will the run-up before these banks, particularly the larger ones? >> they had run up because they were really low price. there wasn't a lot of underpinning for the earnings because interest rates were trending down, and that has a negative impact on bank earnings, generally. this year that will flip over, the yield curve is steep an end bank earnings going up. liz: even with the volcker rule?
>> it will not eliminate bank earnings on the interest rate spread. that will actually be supportive. better to have it in all of these things they do. for example i like the regionals really well. the reason i banks is they stand to benefit the most from the rise in the ten-year treasury, the steepening of the yield curve because they make the majority from the net income. >> the yield went above 3%. >> even ben bernanke the ma bang against it. finally have some wind at their back. that is why it will reign supreme in 2013 because there are a lot of things that will happen that will contribute to positive growth in the economy good for banks, construction spending and housing not bein ba
problem positive for banks, positively sloping yield curve positive for banks. people need to pay attention to it making their decisions for stockpicking. >> we were just showing your three picks right now that you're talking about with the regional names and you like energies i want to move onto that as a sector as well and tell me about what particularly like in energy and other names you like? >> energy did not participate much in the rally, it was a sector people were thinking oil prices were down, not a sector people were purchasing. looking more at the hot momentum names with technology. if you are a dividend investor and have been in bonds, you will be looking for an alternative. they will be in the sectors were the dividend payout are highest and energy is one of those places like exxonmobil or something like that. the sector rotation is probably more of a 2014 story.
it will not go from 90% bond portfolio over a portfolio that is 50% technology, they will find a way to replicate income and the energy names are able to do that within exxon, chevron, those names are really good for replication of income for portfolio retiree or for people who like dividend investing. >> grace to have you on the show comment has been a while. happy new year. >> thank you, happy new year. >> here we go, what will a marriage of american ruggedness with italian style mean for the global auto industry? we will talk about fiat deal to take control of chrysler. we will have the risks and the opportunities as well and the gold market was no place for timid investors in the past year. but coming up, who managed to
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>> 3d printers with a hot story of 2013 and stocks related to the business are soaring on the first trading day of 2014. let's go to lauren simonetti at the new york stock exchange. why is the market so excited? >lauren: it seems like 3d printing will be theestory of 2014. i do want to point out volume is late on this stock.
i have raised the price target to $100 from $81 on 3d systems. we are excited about next week, saying we will see a lot of new products we will like. also you have to remember for the consumer part of the business, it is about 10% of 3d business overall revenue, that will start to grow dramatically. you also have other companies up about 11% today. volume for all of these stocks are relatively light. cheryl: thank you very much, we will see you soon. fiat pushing the pedal to the metal it comes to chrysler. pushing a 42% stake of the car company does not already own it from united auto workers for 4.35 billion. what does it mean for the future of the chrysler brand? joining us now, kelly blue book executive director. does anything change for chrysler now that fiat is the sole owner of the company?
>> it becomes a more agile company. that is its most important thing. there is now an ability to co-mingle assets, to have losses in one area be offset by gains in another. it makes fiat into a more global player, that bodes well for chrysler in the united states. cheryl: the seventh largest automotive group in the world once this deal is completed. what does this mean the american lines of chrysler? they are looking, he has said he wants anything up with the integrated in a very short timeframe. do you think it is realistic? >> is realistic because they have been working that and for a long time now. they expected this to happen. the fact the deal came right when it did may be a bit unexpected, but this was going to happen at some point or another because it makes so much
sense all the way around. cheryl: some say urope is turning around, not sure what you think i'm curious i this isa good thing for fiat. the shares overseas jump exponentially when this deal was announced, people thinking this was a good deal, what do you say? >> i would say the exact same thing. experience in europe indicates what can happen with fiat here. it makes fiat a real global player. does not have to go through proxy or a lot to use chrysler, it can co-mingle the money. there are a lot of things that can happen to it from a business point of view that a very beneficial to the business. cheryl: what do you make of this deal in terms of ford and general motors? not that they aren't a real competitor, but become more of a competitor against them?
>> they have been a great competitor over the last several years for ford and eneral motors. for the imports in the north american market as well, it is going to make them stronger. they will not have to go the flip-flopping around managing the two businesses not as seamless as it can be, ust makes more sense to manage this global business as one business. cheryl: were you surprised the unions finally agreed to this? >> i knew it was coming at some point. they rest a lot by going to an ipo. an ipo can do well or it cannot do so well, we have seen both recently, haven't we. so i think this takes the risk out of it for the union. cheryl: and evaluation of their stake in the company would falter. and they did not pay as much as analysts expected for him to
pay. seemed like he got a good deal. >> i think there was a little bit of game of chicken would blink. i'm not saying one side blinks or another, but both sides did well for their constituents. cheryl: will be see smaller cars driving the u.s.? miracle loves our trucks. >> and the profits from the big trucks. i don't think it will change the mix so much, but we will see integration of fiat platforms. the jeep cherokee very well received, based on a fiat platform. we expect the chrysler 200 coming out soon also based on fiat to do very well. i think a lot of synergies are happening. cheryl: i was driving a fiat in italy, a very fun car to drive, so we will see. thank you very much, kelly blue
book. >> thank you. cheryl: 19 minutes to go on the first day of trading 2014. last year ibm was the lone loser, so will this be big blue's year? cutting costs with more cloud-based services. we will have a debate coming up. also, gold, it made one trader a big chunk of change. who and how much he made coming up in just a moment. ñ@ç@çpçpç
the old dining table at 25th and hoffman. ...and the little room above the strip mall f roble avenue. ♪ this magic mt it is the story of where every great idea begins. and of those o believed they had the power to do more. dell is honored to be part of some of the world'great stories. that began much the same w ours did. in a little dorm room -- 2713. ♪ this magic moment ♪
cheryl: we want to show you how we are trading this first trading day of 2014. some negative numbers to show you. down about 160, now it am 122 points on the dow 62,454. manufacturing, none of it was really horrific but more participants in the market today. also look at the nasdaq lower as welcome as if he was down 21. right now it is lower as well by 15 points. this cannot pick way from the fact we had a blockbuster year for the market in 2013. some of wall street's biggest winners last year were those that made bold calls and solid market trend most did not anticipate. here are some of the winners and the market beating victories. jones of tudor investment made over $100 million betting against gold, gold prices tumbled breaking a 12 years bull run. the $21 billion hedge fund saw his fund rise 42% after the
market saw 5% drop over rising rates concerns. he turned bullish and began buying calls. gains of 48% partly due to his japanese holdings. japan nikkei up in 2013. the best performance in decades, jeff can now go buy another boat. he likes to boat often around the world. it was not a good year for high-profile fund manager running the world's biggest bond fund. the flagship fund lost 1.92% last year, the loss wasn't a big one, it was a first year it hosted negative returns since 1999. actually had a fairly rough year. and speaking of top performers, 2013 was a blockbuster year for
stocks with the dow jones alone or 25%. some of the brightest stars were bowling. american express and 58% gain, but there was one clear loser, it was ibm. the only stock that finished the year in negative territory with shares dropping 2% compared to 26% gains. could this be a great time to buy a cheap stock? global head of technology research. and hi mark vice president and senior portfolio manager, welcome to both of you. a rough year for ibm, big blue, and you are very lowish on the stock. the price target $35 above where it is trading right now, what do you see? >> 2013 was a difficult year for a lot of it companies. ibm wasn't the only stock down in 2013. what was i merging markets we
started to weaken, china started to soften and federal spending weekend. it had an impact on ipos. cheryl: the world's biggest provider of computer services and the fact they didn't participate in what many say was a global recovery is surprising. >> as we move into 2014, some of these headwinds are going to change, so we have the bottom in the sales cycle down 8% year-over-year. 2014 will be a better year for them, by the second half of the year we will show growth again. cheryl: what do you say to that? you exited the stock. brian says he sees things getting better this year for them, do you agree or disagree with that? >> i agree. things will get better for ibm. the problem ibm suffers is real and perceived. on the real side as it is delineated with the real issues
in terms of sales growth, some issues in terms of financial engineering to their earnings, half of their earnings, from buybacks and favorable tax treatment. asset sales and things of the like they have put a high multiple on. cheryl: it is earnings growth of the company. despite the dividend paying stocks. >> they put up double-digit earnings growth but half of that is buyback related, so when you actually buy back it is not actually robust. my concern more is the perceived risk here. it is not alone in this, they are not viewed to be delivered to the big trends in mobile cloud computing which is infrastructure, software as a service and big data. considered pretty wide for a while considered to be shrinking and eroding. the market as a result a very low valuation to them. they can execute in a new paradigm in clouds and services. cheryl: you are bullish, respond to what he is saying here.
>> todd brings up some good points. it can be a positive, it can be a negative. up 70% year to date as of third-quarter 2013. so they have done well in that area but it also impacts some of their other businesses in a negative fashion. big data analytics they are very well positioned. people i talked to around ibm's presence in big data and beneficiary analytics, they feel very bullish about ibm and that is a business they expect to double by 2010-2015. cheryl: todd mentioned financial engineering. does that cross your radar at all? >> i think todd brings up some great points. ibm when they take a restructuring charge typically they don't back it out with a lower tax rate or a positive gain, they don't back it out. when i look over the past five
years, ibm has grown 16% per year versus 4% for the s&p, yet the stock traded 10 times over. cheryl: i am curious getting back into ibm, truth be told in a general sense isn't it buy low, sell high? >> good things happen to cheap stocks. his ibm a bargain? can they pivot and capitalize on the secular trend that is out there threatening their business? the integration business. there are doubts about that. i think it is a step in the right direction, the market wants to see more of that. developing this internally through hiring investment rates. they have made this pivot before in the past.
i think the jury is out, but the market is not discounting any favorable outcome at this point. if it exceeds the real risk. cheryl: gentlemen, thank you very much, appreciate it. we have six minutes on this first day of 2014 that we are trading. a couple of dow jones stocks bucked the trend. coming up in just a moment, david asman is on his way here. ♪ [ male announcer ] this is the story of the little room
over the pizza place onhestnut street the modest first floor bedroom in tallinn, estonia and the sthbound bus barreli down i-95. ♪ this magic moment it is the story of where every great idea begins. and of those who believed they had thpower to do more. dell is honored to be part of some of the world's great stories. that began much the same way ours did in a little dorm room -- 2713.
became big business overnight? ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade. cheryl: all right. we're off of session lows for the dow. we're down 129 points. i do want to show you names actually beating the trend when it comes to the dow.
walmart actually closing day higher as we're about two minutes away. jpmorgan chase as well. boeing, by the way tomorrow big day for boeing. there is a big union vote for the machinists and whether or not the triple 7 x remains in the washington area. that is crucial story tomorrow. david asman. happy new year. david: happy new year to you too. another thing you didn't mention, gold is to the upside. we'll talk about that in a minute. lauren simonetti at new york stock exchange. let's pull back a little bit. is this a feeling this is a trend and first-day dip in the market and we'll be fine after this is over. >> a little bit of both. probably more like a first day bump in the road, david and cheryl. you know, gdp is growing. if it stays around 3% which is the expectations the s&p 500 risings in quarters where gdp is 3%, 93% of the time. we still have bullishness on the
floor. cheryl: consumer discretionary stocks in the s&p managed to break out to all-time highs. discretionary, huh. >> four of them in particular. wynn resorts, calvin klein, phillip van heusen and parented of our company rising to historic highs. pretty unbelievable. some health care stocks did as well. david: i mentioned gold. gold is way up. i say way up compared to where it has been going is up. it is only less than 2%. a $21 gain. mining stocks are up. newmont is up over 4%. >> absolutely. that watts second best performer all day on the s&p 500 the group was up between 3 and 4% a solid and needed day for gold stocks. cheryl: lauren, shares of twitter climbing into the green. there was a report from evercore partners on the stock. was it a good thing. >> it was a good thing. up a couple seconds before the bell. every core says they're in a
strong position to capture video advertising dollars. [closing bell ringing] david: the closing bells ringing on wall street. it is the first day of trading of 2014. it is not an up day. it's a down day. it could have been works t was worse during various times of the day though close to the day time high. the dow jones down 133 points. all the intoday sees were down at least. david: .8%. look what happened to the russell 2000, small and mid-size caps were hit. cheryl: nothing says january like a snowstorm in the northeast and pot in colorado. number of americans filingirst time jobless claims fell by 2,000, to 339,000. that is the second consecutive drop for jobless claims. david: they're calling for end to media lockups for weekly jobless claims reports. it comes amidst concerns about possible leaks to trad